Brokerages Set SCYNEXIS Inc (SCYX) Target Price at $10.00

Shares of SCYNEXIS Inc (NASDAQ:SCYX) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

SCYX has been the topic of several research reports. Guggenheim initiated coverage on shares of SCYNEXIS in a research note on Tuesday, October 24th. They issued a “buy” rating and a $6.00 price target on the stock. Zacks Investment Research raised shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Tuesday, October 10th. Finally, ValuEngine raised shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 9th.

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A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its stake in SCYNEXIS by 17.1% during the third quarter. GSA Capital Partners LLP now owns 206,900 shares of the company’s stock worth $499,000 after purchasing an additional 30,200 shares during the period. Vanguard Group Inc. raised its stake in SCYNEXIS by 6.0% during the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock worth $1,554,000 after purchasing an additional 48,978 shares during the period. Dimensional Fund Advisors LP purchased a new position in SCYNEXIS during the third quarter worth about $264,000. Finally, National Asset Management Inc. purchased a new position in SCYNEXIS during the second quarter worth about $551,000. 31.00% of the stock is currently owned by institutional investors.

SCYNEXIS (NASDAQ SCYX) remained flat at $$1.68 during trading hours on Friday. The stock had a trading volume of 87,108 shares, compared to its average volume of 236,395. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.30 and a quick ratio of 7.30. SCYNEXIS has a twelve month low of $1.52 and a twelve month high of $3.72.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.03. SCYNEXIS had a negative net margin of 8,569.46% and a negative return on equity of 64.12%.

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About SCYNEXIS

SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.